Disney Results
A better than expected quarter due to CARS and a one time gain
Revenue: $8.6B, up 12% Y/Y
Earnings: $1.1B, up 39% Y/Y
Beat earnings expectations by 25% ($0.53 vs $0.44)
The one-time gain was the Pixar acquisition.
For the next quarter, Disney is expecting 2 solid elements. First, Pirates of the Caribbean revenues hit next quarter (and there is the DVD for holiday sales). Second, Disney is selling its stake at US WEEKLY for a profit of $260M.
What I also like about Disney is the focus on operational efficiencies. They laid off 650 employees to boost productivity in their distribution business. And they did it without having to be under the gun of disappearing business.
I continue to own DIS and hope that it hits $35 by end of year.
Revenue: $8.6B, up 12% Y/Y
Earnings: $1.1B, up 39% Y/Y
Beat earnings expectations by 25% ($0.53 vs $0.44)
The one-time gain was the Pixar acquisition.
For the next quarter, Disney is expecting 2 solid elements. First, Pirates of the Caribbean revenues hit next quarter (and there is the DVD for holiday sales). Second, Disney is selling its stake at US WEEKLY for a profit of $260M.
What I also like about Disney is the focus on operational efficiencies. They laid off 650 employees to boost productivity in their distribution business. And they did it without having to be under the gun of disappearing business.
I continue to own DIS and hope that it hits $35 by end of year.
posted by Andrew at
8:14 PM
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